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Our Buy, Neutral or Avoid ratings of the Secondaries below are intended as a recommendation for those who buy Secondaries on a regular basis. For example, this is not to be interpreted as a Buy recommendation in the traditional sense of adding to your stock portfolio; this is a short term (usually one day or opening trade) time period.
Company: CRISPR Therapeutics AG
Symbol: CRSP
Price: Last Trade $25.17
Trade Date: 1/5
Shares: 3.97 million ($100m cash raise)
Underwriter(s): Goldman Sachs, Piper Jaffray, Barclays
Co-Manager(s): Guggenheim Securities
Description: CRISPR Therapeutics is a leading gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 gene-editing platform. CRISPR Therapeutics AG is headquartered in Zug, Switzerland, with its wholly-owned U.S. subsidiary, CRISPR Therapeutics, Inc., and R&D operations based in Cambridge, Massachusetts.
Rating = Subscription Needed
Company: Alexandria Real Estate Equities, Inc.
Symbol: ARE
Price: Last Trade $129.32
Trade Date: 1/4
Shares: 6 million
Re-Offer Range: Subscription Needed
Underwriter(s): BofA Merrill Lynch, J.P. Morgan, Citigroup
Description: They are an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations.
Rating = Subscription Needed
Company: Taylor Morrison Home Corporation — BLOCK
Symbol: TMHC
Price: Last Trade $26.56
Trade Date: 1/4
Shares: 11 million
Re-Offer Range: Subscription Needed
Underwriter(s): Citigroup, Goldman Sachs
Description: They are a leading national homebuilder and developer that has been recognized as the 2016 and 2017 America’s Most Trusted® Home Builder by Lifestory Research.
Rating = Subscription Needed